Key Takeaways
Is Bitcoin’s bottom in?
Risk appetite among Bitcoin investors remain muted despite improving on-chain strength.
What’s driving sentiment now?
Whale accumulation and resilient short-term holders are building the case for a potential sustained rally.
Looks like Bitcoin [BTC] is sticking to its seasonal tailwind.
Despite the October flush, BTC is still up 1.23% and sits just 7% shy from reclaiming all its post-crash losses. That means previously underwater wallets are back into profit, with 91% of the BTC supply now in the green.
On top of that, BTC has flipped above the short-term holder (STH, >155 days) cost basis at $113k for the first time since the crash, reinforcing buyer confidence among those most prone to capitulation during drawdowns.
In short, Bitcoin looks poised to trigger FOMO if this momentum holds.
Supporting that view, whale activity has picked up noticeably. On the 26th of October, a single whale accumulated 2,772 BTC (roughly $309 million worth) pushing its estimated cost basis to around $111k.
Together, these dynamics (weak hands realizing gains, STHs showing resilience and whales buying the dip) are forming the ideal conditions for a “sustained” move. The question is, has greed returned to the market?
Cautious sentiment lingers among Bitcoin investors
From a broader view, it looks like the
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Author: Ritika Gupta
